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June 12, 2000 - Image 7

Resource type:
Michigan Daily Summer Weekly, 2000-06-12

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The Michigan Daily - Monday, June 12, 2000 -- 7
Qnline entreprenusip m n students onthe rise

By Ahmed Hamid
Dally Stift Reporter
teenage entrepreneurship is on tite rise and
Ihopeful youngsters are holting to cstahlish a pres-
ence online. According to the research firm
Cotsputer Economics, over the next five years this
trend will lead to a drastic change itt the demo
gr cse of Internet etntrepreneurs.
WOur research showvs that over the next five
years, of the people that graduate from high
school, ahout 1.6 million of them will he itnvolved
in sotme sort of Intertnet business," Michael
Erhscltloe, vice-president of research at Computer
Economics, said.
Various reasons may accoutnt for this ascettt, the
most obvious being the large nutmter of Intemnet
savvy teenagers with a grasp ott today's technologies.
"The techtnology is getting easier and easier to

use as more and more kids Itave access to coniput-
ers" said Catiheinhe -Incke, a setnior research aia-
lyst at Computer Economics.
Jim Havetys, president and chief executive officer
of Junior Achievemetnt Inc., and thte former publish-
er of Fortune Magazine, said startittg their oasisbuisi-
tesses allosws teeinagers to he more independent.
"More and more and more (teetnagers) scant atn
ittdependent sway of runtnitng their own lives, mtan-
aging their owvn lives, directing their own lives, and
heing entrepreneurs allows thenm to do that to a
great degree, Hayes said.
Entrepreneurship is also surging at the Utniversity.
Satmuel Millet; an engineering senior and president
of Michigan Entrepreneurs, started the cluh for
entreprenseuts on campus only two motsths ago and
its memhership already sumbers 140.
"I started Michigan Entrepreneurs to create a
community of student entrepreneurs and to edu-

case students on everythintg they seed to start
Intertiet husinsesses," Miller said.
Miller, whso is 20, has worked with
Orangesorhetecom and has nosy lautnched his own e-
husiness called Uphonescom. He plants to develop
it over thte summer.
"The* Wehsite will sell cellular phones atnd pre-
paid airtime to college students' Miller said.
Amntg the legion of teenagers running their
own husinesses are Ryatt Zacharia, the 16-year-old
chsief executive officer of Zeal Network Inc. "It
takes a lot dedication, a lot of hard work. You have
to have the desire to do it. You have to go in there
with a clear plan, a clear idea, and thinking 'I can
do this, smy age is not an ohstacle'," Zacharia said.
Zacharia launched Stockpickz.com in the sum-
nmer of 1998 as a forum to express his "financial
viewpoints and commentary.' His picking of suc-
cessful stocks for his father's friend prompted him

to start thse Wehsite.
Today he Ihas over J0,000 suhscrihers to his
weekly email alerts atnd stock picks
Zacharia recently wetnt on to incorporate Zeal
Network, which provides content on the Ittternet
and consists of stockpickz.com, ihuy4.cotn, and
Erhsclsloe said teenager's creative ways of sell-
ing their products are wchat allow thenm to he sue=
"Teens tend to use very direct marketing tech.
niques and virile marketing approaches that are sort
of revolutionary compared to what some of the exist-
ing Internet companies use,' Erhschloe said.
Miller agreed, hut said teenagers also have the
wisdom to make their husinesses successful.
"Young people have not only the knowledge, hut
the creativity and ingenuity to run their own husi-
nesses" Miller said.

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